Sinclair, the Maryland-based TV and media group, is looking to sell its Santa Monica, California-based Tennis Channel for $750 million.
Sinclair acquired the Tennis Channel in 2016 for $350 million. Meanwhile, on September 9, 2024, the company fired the channel’s chairman and CEO, Ken Solomon, who was considered the architect of the Tennis Channel’s success. The channel’s revenues this year are estimated at $325 million.
Sinclair owns local TV stations throughout the U.S., several digital networks, and regional sports networks. The reason given for Solomon’s dismissal is his involvement as board member of Merit Street Media, the company of TV personality Dr. Phil McGraw.
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Very weak argument before the court by Sinclair. Appears that they merely don’t wish to share with Solomon the fruits of his labor. Solomon and his team built this ship from the ground up into the success it enjoys today.